The oft-cited figure for how much you need to build up in your nest egg in order to retire comfortably is $1 million – with some experts advocating a $2 million target! However, the author of today’s article believes that, “while that theory might seem reasonable on paper, in practice, it leaves a lot to be desired” – and he argues that a nest egg half that size – $500,000 – is a more appropriate target. What’s his rationale – and is a comfortable retirement possible on even less than that amount? CLICK HERE to read more.
Many myths may be relatively innocuous, but when you are making retirement-planning decisions based on myths the consequences can be dire. As such, today’s article identifies five “pervasive retirement myths Americans must stop believing” and seeks to counter them with a dose of reality. What do the majority of studies say about whether spending increases or decreases in retirement? Is the oft-cited 80% replacement rate for pre-retirement income too little? Or too much? Is Social Security sufficient to live off of in retirement? For that matter, will Social Security even be solvent much longer? To find out what’s myth and what’s fact in regards to these retirement matters and more, CLICK HERE.